AAP

Premier Colin Barnett says he would have preferred to see state members of parliament receive a lower pay rise than they were granted last week.

The Reserve Bank of Australia still has "ammunition" on interest rates but governor Glenn Stevens says previous cuts are still working their way through the economy.

The Australian stock market was higher in early trade following on from Wednesday's strong gains and Wall Street hitting record highs overnight.

Commonwealth Bank boss Ian Narev will front the media for the first time since a damning report called for a royal commission to investigate its financial advisers.

Oil prices tumbled on Wednesday on the prospect of higher Libyan output joining ample global supplies and as traders continued to book profits from a sharp rally a week ago.

The Dow and S&P 500 edged to new records Wednesday ahead the official US jobs data for June, with the outlook buoyed by a strong ADP private sector report.

The Australian dollar is lower, weighed down by disappointing trade figures and a stronger greenback.

Gold prices have shuffled between gains and losses, as traders weigh violence in Ukraine and the Middle East against the possibility of a stronger-than-expected US jobs report.

Signs of stronger manufacturing activity in the world's second largest economy have outweighed a blowout in Australia's trade deficit and fuelled gains on the share market.

Property giant Stockland’s hopes to snare rival Australand have been dealt a massive blow, with the takeover target agreeing to a $2.6 billion offer from Singapore.

Meadow Lea margarine and Mighty Soft bread are the latest Australian household brands set to fall into foreign hands.

Australia's international trade balance has spent a second consecutive month in the red following a fall in mining exports.

Wesfarmers is facing a $774 million hit to its bottom line from its struggling Target chain and the restructure of its liquor business.

A rebound in the local banking sector has helped the Australian share market to open higher, after Wall Street stocks surged to new records.

The Australian dollar has shot up above 95 US cents after the Reserve Bank of Australia gave a more neutral statement than the market expected following its interest rate decision.

World oil prices have slipped on profit taking and marginally easing concerns about the Iraq crisis, while in the US a storm sparked fears about lower gasoline demand.

Wall Street stocks have barrelled higher to new records, opening the third quarter with big gains following strong US auto sales and Chinese manufacturing data.

Big falls by the banks have caused the share market to lose ground on the first day of the new financial year.

The Reserve Bank of Australia has kept the cash rate unchanged, saying the economy is improving but it will be some time before unemployment drops consistently.

The future of 2,500 jobs at discount retailers Crazy Clarks and Sam's Warehouse is uncertain after their owner fell into receivership.

The share market is flat with mining stocks partly offsetting weakness among the major banks.

The Australian dollar has bounced as the greenback continues to be weighed down by weak economic data.

Global oil prices have slipped amid new signs of higher OPEC production but the market was still cautious amid ongoing Iraq violence and a rebel attack on a Colombian pipeline.

Wall Street stocks turned in a mixed performance to close a strong second quarter after US pending home sales jumped but automaker General Motors announced another massive auto recall.

Electronics retailer Dick Smith says its sales have grown in recent months, in stark contrast to several other major retailers who have been hit by falling consumer confidence linked to May's feder

Last-minute share sales to lock in the profits of a strong financial year have caused the market to fall.

The share market is slightly lower as investors wait for more signs on the economy's health.

The Australian dollar remains above 94 US cents after a batch of disappointing US economic data weakened the greenback.

Gold prices have ended higher, as investors bet the metal will hold on to its recent gains amid a dovish Federal Reserve and a surge of violence in Iraq.

Coalition MPs urge sharp cut in RET

US stocks have finished a quiet day of trade higher as strong earnings from Nike helped offset a profit warning from DuPont.

The share market has ended the week with a fall as investor caution resulted in muted trade.